Mack-Cali Realty Corporation (CLI) Cut to Sell at Stifel Nicolaus
Mack-Cali Realty Corporation (NYSE:CLI) was downgraded by Stifel Nicolaus from a “buy” rating to a “sell” rating in a research note issued on Wednesday.
Other equities analysts have also issued research reports about the stock. Barclays PLC reduced their target price on shares of Mack-Cali Realty Corporation from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, August 18th. Zacks Investment Research cut shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. ValuEngine raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Mack-Cali Realty Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.43.
Mack-Cali Realty Corporation (NYSE CLI) traded down $1.55 during mid-day trading on Wednesday, hitting $21.57. 1,025,683 shares of the company traded hands, compared to its average volume of 480,708. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.02 and a current ratio of 1.02. Mack-Cali Realty Corporation has a 52 week low of $22.23 and a 52 week high of $29.70. The company has a market cap of $2,078.80, a price-to-earnings ratio of 10.14, a P/E/G ratio of 2.53 and a beta of 1.21.
Mack-Cali Realty Corporation (NYSE:CLI) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. The business had revenue of $160.02 million for the quarter, compared to the consensus estimate of $156.18 million. During the same period in the prior year, the business posted $0.60 EPS. Mack-Cali Realty Corporation’s revenue for the quarter was up 1.6% on a year-over-year basis. equities analysts predict that Mack-Cali Realty Corporation will post 2.26 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of CLI. Bank of New York Mellon Corp lifted its position in shares of Mack-Cali Realty Corporation by 53.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock worth $131,549,000 after purchasing an additional 1,932,241 shares during the period. Balyasny Asset Management LLC lifted its position in Mack-Cali Realty Corporation by 95.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 673,960 shares of the real estate investment trust’s stock valued at $18,291,000 after acquiring an additional 329,201 shares during the period. Marshall Wace North America L.P. purchased a new position in Mack-Cali Realty Corporation during the 2nd quarter valued at about $8,404,000. Renaissance Technologies LLC lifted its position in Mack-Cali Realty Corporation by 22.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,682,201 shares of the real estate investment trust’s stock valued at $45,655,000 after acquiring an additional 307,701 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Mack-Cali Realty Corporation by 128.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 543,201 shares of the real estate investment trust’s stock valued at $14,748,000 after acquiring an additional 305,832 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.
About Mack-Cali Realty Corporation
Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.
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